真题BF分类下2011

Frost:
Becker:

I notice you have many portfolio positions where the current values
have been below cost for awhile.

Investing requires patience. You have to give things time to work out.

ii. frame
dependence

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Frame dependence refers to investor behavior that
depends on the way decisions are framed. Becker
holds many positions valued below cost. This may
be evidence of frame dependence (loss aversion).
His investment decisions are framed to avoid losses
rather than continuously reevaluate holdings.